Walter & Keenan Wealth Management LLC IN ADV Buys 173 Shares of General Dynamics Co. (NYSE:GD)

Walter & Keenan Wealth Management LLC IN ADV grew its stake in shares of General Dynamics Co. (NYSE:GD) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 6,553 shares of the aerospace company’s stock after acquiring an additional 173 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in General Dynamics were worth $1,980,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares in the last quarter. Boston Partners grew its position in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after acquiring an additional 23,304 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Performance

GD opened at $301.80 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $300.69 and its two-hundred day moving average price is $294.95. The company has a market cap of $82.99 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 1-year low of $237.35 and a 1-year high of $313.11.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the firm posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts expect that General Dynamics Co. will post 14.27 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.